186 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 48 DEFERRED TAXATION (CONTINUED) The amount of unused tax losses for which no deferred tax assets are recognised in the statement of financial position by certain subsidiaries of the Group and by Company as the Directors are of the view it is not probable that sufficient taxable profits will be available to allow the deferred tax assets to be utilised by year of assessment 2025 is as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Unused tax losses 1,241,377 986,771 - - Deductible temporary differences 376,631 364,158 - - 1,618,008 1,350,929 - - The Company was granted exemption on the treatment as Investment Holding Company pursuant to Section 60F and Section 50FA of the Income Tax Act 1967 for the period from YA2010 to YA2021. The exemption period had expired in the current financial year, resulting in the unused tax losses of the Company being disregarded and no longer being carried forward. 49 PAYABLES Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Current liabilities Trade payables 265,328 642,702 - - Other payables and accruals 1,031,208 1,298,327 51,862 68,508 1,296,536 1,941,029 51,862 68,508 1,296,536 1,941,029 51,862 68,508 ThIncluded in other payables and accruals are purchases of raw materials of RM133,000,000 (2022: RM223,000,000) and provision for remediation of recruitment fees amounting to RM34,400,000 (2022: RM112,000,000) to its existing and former foreign workers.
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